Bybit Web3 Unveils BTC Staking with Lombard, Offering Up to 5% APY

Bybit Web3 Introduces BTC Staking with Lombard

In an exciting development for cryptocurrency enthusiasts, Bybit, recognized as the world's second-largest digital asset exchange by trading volume, has announced a groundbreaking initiative aimed at broadening access to Bitcoin staking through a partnership with Lombard Finance. This initiative focuses on promoting innovative decentralized finance (DeFi) offerings while encouraging existing stakeholders to tap into the yield potential of their Bitcoin (BTC) assets.

Starting April 9, 2025, eligible users utilizing the Bybit Web3 Seed Phrase Wallet can now stake their BTC directly from within the wallet. In return for their participation in this staking exercise, not only will users benefit from liquidity by earning an attractive annual percentage yield (APY) of up to 5%, but they will also receive additional points as rewards across various platforms including Lombard, Babylon, and Veda.

Connecting to DeFi Opportunities

Lombard Finance is taking substantial steps to integrate BTC more dynamically within the DeFi ecosystem. By introducing LBTC, the foremost liquid staked Bitcoin token, Lombard is fostering a new realm of earning potential for BTC holders. LBTC is engineered to activate BTC assets effectively, enabling users to earn staking yields through various protocols like Babylon's Bitcoin staking ecosystem, all while preserving their original asset value.

This is particularly relevant given that over 100,000 users have already placed their trust in LBTC’s framework, which currently boasts a circulation of over 21,000 LBTC tokens, with a staggering 60% being actively utilized within DeFi applications such as lending, borrowing, and staking across six different blockchain networks.

Simplifying DeFi Participation

Further simplifying the DeFi experience, Lombard has collaborated with Veda Labs to create a user-friendly pathway where BTC holders can enjoy DeFi yields with just a click. Users involved in this initiative through Bybit Web3 can earn rewards that compound their overall earnings. This includes the potential of obtaining up to 6X Lombard LUX and 1X $BABY along with 6X Veda Points based on their deposited amounts, available from April 9 until May 9.

Addressing the convenience of this initiative, Emily Bao, the Head of Bybit Web3, remarked, "BTC has always been the cornerstone of crypto, but until now, it's been largely passive. This campaign marks a turning point — not just in how BTC is held, but how it moves. We're unlocking real yield, real simplicity, and real access for the next wave of users."

Jacob Phillips, Co-Founder of Lombard Finance, echoed this sentiment, noting, "BTC is undergoing a transformation. Once viewed solely as a store of value, BTC is now increasingly being integrated into DeFi, unlocking new earning opportunities for BTC holders. With the LBTC SDK, Bybit can eliminate the complexity for its users, enabling seamless BTC staking and DeFi participation directly within the wallet."

How to Get Involved

Participation involves a straightforward setup. Users can create or import a Bybit Seed Phrase Wallet and deposit their BTC into their Bybit Wallet via the application. Once deposited, users will receive LBTCv directly in their Ethereum address, representing the staked LBTC within the DeFi Vault. Rewards associated with their staking will reflect within the pool page on the Bybit Web3 interface.

The rewards, tailored exclusively for eligible Bybit app users, align with Bybit Web3's mission of creating a dynamic and rewarding environment for cryptocurrency stakeholders. This campaign not only enhances staking accessibility but also facilitates innovative earning mechanisms for existing BTC holders wanting to participate in the evolving DeFi landscape.

For those interested in diving deeper into the details of this initiative, comprehensive terms and conditions can be found on the Bybit Web3 platform. As the DeFi landscape continues to flourish, initiatives like this emphasize Bybit’s commitment to fostering growth and fluidity in the digital finance realm.